07:32 AM EDT, 06/30/2025 (MT Newswires) -- Starlight U.S. Multi-Family (No. 2) Core Plus Fund (SCPT-A.V, SCPT-U.V) over the weekend said that it has completed the sale of a 400-suite multi-family property located in Denver, Colorado for US$133 million.

Proceeds will be used to repay the property's mortgage and Starlight's unsecured debt in full. The remaining proceeds will be distributed to unitholders on July 15. The special dividend will range from $2.52 to $2.94, depending on the class of unit, a statement said.

Following the sale of the property, Starlight continues to own a 275-suite multi-family property in Orlando, Florida and a 320-suite property located in the Falls River submarket of Raleigh, North Carolina.

However, the loans secured on the two assets had initial maturity dates of May 7, 2025, which Starlight was unable to meet. The Fund is negotiating with the lender to modify and extend the loans. If this is not possible, Starlight said it may be forced to sell the the last two properties it owns.